| 1 |
Single entry system is generally adopted by, |
- A. Small business concerns
- B. Large business concerns
- C. Medium business concerns
- D. All of the above
|
| 2 |
Opening capital is calculated by taking the difference between, |
- A. Opening assets and closing assets
- B. Opening assets and closing liabilities
- C. Opening assets and Opening liabilities
- D. Closing assets and closing liabilities
|
| 3 |
If the cash sales are missing they are to be ascertained by the construction of. |
- A. Debtors account
- B. Creditors account
- C. Cash account
- D. None of these
|
| 4 |
In single entry system ledger contains the accounts of, |
- A. Debtors, creditors and cash
- B. Wages and carriage
- C. Salaries and insurance
- D. Assets and liabilities
|
| 5 |
Under the conversion method of single entry credit salea are ascertained by preparing the. |
- A. Total debtors account
- B. Total creditors account
- C. Total cash account
- D. Total bills receivable account
|
| 6 |
The figure of the bills receivable can be worked out from. |
- A. Total debtors account
- B. Total creditors account
- C. Trail balance
- D. Balance sheet
|
| 7 |
In single entry system, |
- A. Personal accounts are maintained
- B. Real accounts are maintained
- C. Nominal accounts are maintained
- D. None of the above
|
| 8 |
The fingure of bills payable is worked out by preparing the. |
- A. Total debtors account
- B. Total creditors account
- C. Cash book
- D. Balance sheet
|
| 9 |
In single entry system real accounts are not maintained so the preparation of, |
- A. Correctly
- B. Effectively
- C. Wrongly
- D. Approximately
|
| 10 |
Not worth method is equal to. |
- A. Liabilities - assets
- B. Assets- liabilities
- C. Capital + assets
- D. None of these
|